No... From same quarter last year, revenues are up 49%, expenses 68%. Not what we want to see. Cash position is not stable, but has gone down from $8.9 to $6.6mio this quarter. It was $7.7 at last June 4C, so we're lower despite the CR.... Net operating cashflow this quarter is $-2.2mio. Net operating cashflow averaged over FY24 is $-2mio net of R&D rebate. CR is very likely again without a significant change in profitability.
We could hope that they put a lid on expenses from here, the onboarding of Capricorn and Carpet Court somehow justifying the ramp-up (maybe but from a high base). And if the trend in revenues was to continue, or even accelerate as the onboarding progresses, then there could be light at the end of the tunnel. But all of that will be muddied with the acquisition of LimePay, which will likely bring more costs than revenues.
SPX Price at posting:
0.8¢ Sentiment: Sell Disclosure: Held
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